Openpay stole the spotlight on Friday as the Aussie buy now, pay later provider announced it is pausing its existing US operations indefinitely and will cease loan originations on the Opy USA platform amid current macroeconomic and public market conditions, and the requirement of Openpay to invest large amounts in order to fund expansion in the US. The decision follows the company?s announcement recently to also withdraw from the UK market.
The ASX as a whole started the month of July on the same note it ended June, down by almost half a percent as a sell-off in metals, mining and energy stocks weighed down the key index.
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